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Renko Advanced lite

This Renko Advanced indicator can be considered as a trading system.

It offers a different view to see the currency pair:full timeless indicator, can be used for manual trading or for automatized trading with some expert advisor. When the price reaches a threshold a new block is created.

The indicator beside the Renko bars, shows also 3 moving averages.

Push notification was introduced when a new bar is created or a cross between moving averages occurs.

PS2: if nothing is displayed turn off the Sync feature


Introduced: datetime for renko bars and wicks.

Strongly raccomanded to switch TF before starting(for example if you are in 30M. switch to 15M and then 30M again) to allow refreshing data at the beginning.


How to use

This is the lite version of the Renko Advanced indicator.

The only limitations of this version are some parameters can not set (read only). In this way the user can start to appreciate the Renko visualization and how this indicator can be very powerful and simple at the same time.

Time frame should be low( depending of brick height) to have a good representation of historical bars, otherwise the user should adapt the timeframe related to brick height set.

PS: please rate this indicator and leave a comment. Do not forget: your feedbacks are important!

How to set the brick height? It is a good questions, it depends of the duration we want to stay in the market, the volatilty of the market. A good choice could be using the ATR indicator to check the average value of candles in the TF we want to operate.
Renko is very good for giving the idea of the trend with very low noise. Just for an example you can try EURUSD with 2 RenkoAdv: one with brick at 130 points and another with brick at 500 points.


INPUT parameters


DisplayMode: RenkoAdv, True Renko, Median Renko

The difference is :

-With RenkoAdv, every brick has drawn after a number of points set in BoxSize parameters. 

-With TrueRenko on inversion of trend, the price must be distant the double of BoxSize before drawing the bricks. When the double has reached, 2 box are drawn. It is less noisy of RenkoAdv mode but it has more delay when changing trend occurs.

-With Median Renko we have a smoother price movement

Box size (in Points): the thickness of the renko bar in points

Calculation Type: how to calculate a new renko bar

FAST Average length: length for the fast moving average

FAST Average type: simple or exponential moving average

SLOW Average length: length for the slow moving average

SLOW Average type: simple or exponential moving average

LONG Average type: simple moving average

Alert on new bar: Computer or phone notification is available

Alert on Avg cross: Computer or phone notification is available

Optional comment: on push notification to EA, optional comment is sent

Sync graph with midnight: Renko is not dependent by the time, so if you close the metatrader and open it again in few hours, the graph could be a little different by today. With this feature the graph will start to be drawn by the first candle starting at midnight.

Give us a feedback and a comment please.

PS: for receiving phone notification you need to have installed MT5 on your phone and follow the procedure to enable push notification. If you have problems feel free to contact me.


Using with an EA

  enum Typek
  {
   Calc_OnClosePrice=1,//On Close Price(TF related)
   Calc_OnEveryTick=2//On Every Tick
  };

enum Average
  {
   Simple=1,
   Exponential=2
  };

enum NewAlert
  {
   Alert_No=0,//No Alert
   Alert_PcAlarm=1,//Computer
   Alert_PhoneAlarm=2,//Phone
   Alert_PcPhoneAlarm=3//Computer and Phone
  };

enum DisplayModex
  {
   Mode_TrueRenko=0,//True Renko
   Mode_RenkoAdv=1,//Renko Adv
   Mode_MedianRenko=2//Median Renko
  };

//+------------------------------------------------------------------+
//|                                                                  |
//+------------------------------------------------------------------+

//Example of Call 
//For the order of the input, follow the indicator inputs.The following row could be not updated.
int handle_adv=iCustom(NULL,Period(),"Downloads\RenkoAdv",BrickHeight,Avg1Fast_Length,Avg1Fast_Type,Avg2Slow_Length,Avg2Slow_Type,Avg3Length,Avg3Long_Type,UseSync_boolean,ShowNewBarAlert_boolean,ShowCrossAlert_boolean,CalculationType_typek,"Just a comment");




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Trading the currency markets is a complex business, not least since we are dealing with pairs of currencies, and by inference, pairs of economies. All economies around the world are interlinked, and reflected in the constant ebb and flow of currency strength and weakness. The problem for us as traders is monitoring so many pairs simultaneously, since every pair does not move independently, but reflects the interrelated nature of this market. The Quantum Currency Heatmap delivers the informatio
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Support and Resistance with Trendlines
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This indicator would help you I DENTIFY different HORIZONTAL SUPPORT / RESISTANCE LEVELS AND TRENDLINES.  ADVANTAGES: Use up till 5 different levels of Support and Resistance Use up till 5 different trend lines  Use true/false options to display for Support/Resistance or Trend line Image PARAMETERS: nPeriod: the time period to decide  Limits: the candles limit to look back UseHorizontalLines: true/false option to display Horizontal Support and Resistance Lines UseTrendline: true/false opti
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Advanced Currency Strength28 MT5
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Filtro:
hsok1
737
hsok1 2020.12.07 04:13 
 

no words

Marco Montemari
19279
Resposta do desenvolvedor Marco Montemari 2020.12.07 07:25
What is the problem?
Valentin Butorin
3894
Valentin Butorin 2020.07.23 13:35 
 

Usuário não fez qualquer comentário quanto a classificação

rektMan
72
rektMan 2019.04.21 07:07 
 

Usuário não fez qualquer comentário quanto a classificação

Responder ao comentário
Versão 3.2 2020.12.18
Brick size in points
Versão 3.1 2020.12.16
fix minor bugs
Versão 3.0 2020.12.07
-removed cursor informations
-show loading in progress during bars creation
-added wicks and tails
Versão 2.5 2020.12.07
fix datetime on renkobars
Versão 2.4 2020.12.06
Added time info on renko bars
Versão 2.2 2020.04.28
-Implemented Median Renko with no delay

-Implemented no blocking Alert.
(It could be very dangerous to have a pop up window if the user in the while was doing some operation on the market)
Versão 2.0 2020.04.18
-Added median renko mode
-Added push notifications to phone
Versão 1.15 2020.04.15
--Added True Renko visualization Mode
Versão 1.14 2020.03.25
--New publish--
Versão 1.13 2020.03.23
-On bar creation, info are given
Versão 1.12 2019.11.16
Fix: if connection is lost, many push notifications were sent
Versão 1.10 2019.11.04
Added Sync feature
Versão 1.9 2019.11.03
Fix a bug, now indicator can be used with high timeframes
Versão 1.8 2019.09.26
- Added alert on cross between AVGs
- Added push notification cross avg and fix
Versão 1.6 2019.04.07
-Added Exponential Avg also fot the long running
-user can set a custom message in the push message
Versão 1.5 2019.03.17
-Optimized to make it faster
-Custom event fired on a new bar creation